SALE &
PURCHASE
Our Sale & Purchase department has a broad knowledge of shipping assets, their
location and availability. This team of professionals maintains contact with over five
hundred ship owners and shipbrokers throughout the world to provide our clients with
accurate and up-to-date information that enables them to make critical investment
decisions. We monitor developments in this market on a daily basis, including world and
industry events and trends, new ships being offered for sale and new ship sale
transactions. We maintain a computer database with full technical and commercial details
on thousands of existing vessels. This information enables the company to have first hand
assessment of vessel particulars, locations and values to be communicated directly to
potential buyers and sellers. This department is also engaged in structured transactions
such as sale/leaseback and joint ventures as well as special projects.
DEMOLITION
The Demolition department maintains an hourly knowledge of price fluctuations and trends
in this highly volatile market. Our extensive experience as to the practices, payment and
delivery procedures and reputation of the various ship breakers and cash buyers in all the
major ship breaking markets worldwide is of considerable value to our clients in disposing
of their obsolete vessels. Our expertise in this sector enables our clients to obtain the
best possible price and delivery terms while minimizing their risk. Compass
Maritime’s services in this area include arranging sale of vessels on an “as is
where is” basis with the buyer taking full responsibility for transportation to the
recycling area as well as arranging for ocean towage of vessels that cannot proceed under
their own power.
VALUATIONS
In addition to acting as a broker for the buying and selling of vessels, Compass appraises
ships for owners and operators, insurance companies, attorneys, leasing companies and we
work closely with the leading ship finance banks and financial institutions who closely
monitor their shipping portfolios.
Our database of current and historical sales information and our intimate knowledge of the
value of a wide variety of vessel types is an invaluable resource to our clients. We have
the ability to customize the evaluation type to match the particular requirements of our
clients. We perform the following types of valuations: current market value basis charter
free delivery, current market value including charter employment, historic values (a
client may need a value from a specific date in the past), and residual values.
Most of our appraisals are standard desktop evaluations but some clients require the
evaluation to include a physical inspection of the vessel. In these cases, we engage the
services of qualified marine surveyors and incorporate the findings of their inspection
report with our commercial data to arrive at a value.
We have testified as expert witnesses (ship appraisers) before the United States
Bankruptcy Court (Southern District of New York), the United States District Court
(Eastern District of Louisiana) and performed valuations for cases before the United
States Tax Court.
RESEARCH
Maritime research and industry studies are performed on
request to address our clients’ needs. We have performed detailed studies on both the
dry and wet markets as well as comprehensive industry studies on specific market segments.
Our approach is to focus our study to meet our client’s goal. This requires our
distilling voluminous data provided by research organizations into a study that addresses
and helps our client in assessing its business opportunities.
SHIP AUCTIONS
Our brokers have considerable experience in representing various
jurisdictions in selling ships at public auction. We have acted in this capacity for the
Supreme Court of Bermuda and numerous U.S. District courts including the U.S. District
Court of Puerto Rico, the Southern and Eastern Districts of New York, the Eastern and
Middle Districts of Louisiana, the Southern District of Alabama, the District of Maryland
and the Northern District of California. We have also acted on behalf of various creditors
and their attorneys in conjunction with auction sales with the U.S. Customs Services. Our
services in this area include providing accurate and realistic evaluations to the court,
advertising and soliciting attendance via our worldwide network to insure that the maximum
price is obtained for the creditors.
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